• Contact Us
  • About Us
Tuesday, July 29, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Companies and Markets

Dollar Under Pressure On Rate Cut Wagers In Thin Holiday Market

metro by metro
December 27, 2023
in Companies and Markets
0
Dollar Under Pressure On Rate Cut Wagers In Thin Holiday Market
0
SHARES
0
VIEWS

 

 

Read Also

Markets Fall On Reported Trump Plan To Sack Fed Chief

Diageo CEO Crew Steps Down As Company Pursues Turnaround, Cost Cuts

Court Convicts Three Firms For Illegal Capital Market Operations In Lagos

The dollar remained under pressure on Wednesday, while the euro flirted with a four month peak, as expectations that the Federal Reserve would soon cut interest rates take hold in the market, with thin year-end flows keeping movements limited.

With traders out for holidays globally until the New Year, the curtailed week is likely to see muted volumes.

The dollar index , which measures the U.S. currency against six rivals, was at 101.54, just shy of the five month low of 101.42 it touched last week. The index is on course for a 1.9% drop in 2023 after two straight years of strong gains on the back of the Fed hiking rates to battle inflation.

The recent weakness in the dollar has been a result of the markets anticipating rate cuts from the Fed next year denting the appeal of the greenback.

Markets are now pricing in a 79% chance of a rate cut starting in March 2024, according to CME FedWatch tool, with as much as 153 basis points of cuts priced in for next year.

“With little to speak of on the economic calendar for this week between global holidays, we do not expect a large swing in pricing to wrap up this calendar year,” said analysts at Monex USA.

“Liquidity across the world will remain quite thin as many offices remain closed, which could give us some choppiness in markets, but largely this week is expected to remain fairly uneventful.”

Meanwhile, the euro was down 0.07% to $1.1034, having touched a four month high of $1.1045 on Tuesday. The single currency is up nearly 3% in the year and is on course for third straight month of gains, matching the run it had last year.

ALSO READ:Trump Shares Poll Showing Voters Associate Potential Second Term With ‘Revenge’

The Japanese yen weakened 0.17% to 142.64 per dollar and is headed for a 8% drop in the year although the Asian currency has witnessed a bout of strength in recent weeks as traders wager that the Bank of Japan will soon exit its ultra-loose policy.

A summary of opinions at the central bank’s Dec. 18-19 meeting showed that BOJ policymakers saw the need to maintain ultra-easy monetary policy for now, with some calling for a deeper debate on a future exit from massive stimulus.

Elsewhere, the Australian dollar and the New Zealand dollar both touched a fresh five month peak but were down a touch in early trading. The Aussie last bought $0.6822, while the kiwi was at $0.6321.

 

Previous Post

Trump Shares Poll Showing Voters Associate Potential Second Term With ‘Revenge’

Next Post

Michigan Supreme Court Rejects Bid To Keep Trump off 2024 Primary Ballot

Related Posts

Markets Fall On Reported Trump Plan To Sack Fed Chief
Companies and Markets

Markets Fall On Reported Trump Plan To Sack Fed Chief

July 16, 2025
Diageo CEO Crew Steps Down As Company Pursues Turnaround, Cost Cuts
Companies and Markets

Diageo CEO Crew Steps Down As Company Pursues Turnaround, Cost Cuts

July 16, 2025
Federal High Court Reverses Ratification Of Joyce Oduah’s Suspension As NBA Secretary General
Companies and Markets

Court Convicts Three Firms For Illegal Capital Market Operations In Lagos

July 15, 2025
Concerns Over AMCON’s Proposal For N5tn Debt Recovery
Companies and Markets

Hope Rises For AEDC, BEDC, KADEDCO, KANEDCO As AMCON Sells Ibadan DisCo For N100bn

July 4, 2025
Next Post
Trump

Michigan Supreme Court Rejects Bid To Keep Trump off 2024 Primary Ballot

How Credit Reports Can Empower, Not Scare Consumers

July 29, 2025
Gold Hits Record High, Oil Prices Slide

Oil Climbs on EU Trade Deal, Potential US-China Tariff Truce Extension

July 29, 2025
Lagos Vows To Enforce Monthly Rental Policy

Lamentations, Anger As Lagos Doctors Embark On Three-Day Warning Strike.

July 28, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version